TradingMarkets 7 Stocks You Need to Know for Wednesday
Responding to increasingly overbought conditions in stocks and ETFs, traders took short term gains on Tuesday.
The Dow lost 242.85. The Nasdaq Composite closed lower by 24.40. And the S&P 500 fell 21.03.
Here are 7 Stocks You Need to Know for Wednesday.
Sony Corporation
(
SNE |
Quote |
Chart |
News |
PowerRating) announced that it would cut 16,000 jobs as part of an overall cost-cutting strategy.
Lowered profit forecasts for 2009 from FedEx Corporation
(
FDX |
Quote |
Chart |
News |
PowerRating), contributed to selling throughout the transportation industry, including truckers and other shippers.
Mixed in with the more traditional industrially-oriented stocks expected to benefit from President elect Obama’s public infrastructure plan is networking king, Cisco Systems
(
CSCO |
Quote |
Chart |
News |
PowerRating) as more communities are wired for high-speed Internet access.
A final deal between the White House, Congress and the Big Three automakers of General Motors
(
GM |
Quote |
Chart |
News |
PowerRating), Ford Motor Company
(
F |
Quote |
Chart |
News |
PowerRating) and Chrysler may involve the government taking equity stakes in the companies.
Citing a weakness in steel demand due to the credit crisis, Nucor Corporation
(
NUE |
Quote |
Chart |
News |
PowerRating) announced that its quarterly profits were likely to be worse than expected.
The CFO of Netflix
(
NFLX |
Quote |
Chart |
News |
PowerRating) reported on Tuesday that the current quarter was “remarkably strong”.
Do you think that Netflix will be Up or Down on Thursday? Play
the TradingMarkets Up or Down Stock Contest for your chance to win $1,000 each month by correctly guessing the direction of a stock!